HSBC providing more generous 10% and 15% deposit mortgages
HSBC for Intermediaries has increased the maximum loan size on its 15% deposit mortgages from £500,000 to £750,000 as its lending criteria continues to return to normal.
The lenders cheapest rate for borrowers with a 15% deposit has recently been lowered to 2.49% fixed until 31 May 2023, and it has a £999 arrangement fee. The overall cost for comparison is 3.5% APRC.
The bank has also increased the maximum loan from £400,000 to £550,000 on its 10% deposit rates. The rate is more expensive at 3.09% for those borrowers with a smaller deposit but still reasonably priced. The overall cost for comparison is 3.60% APRC and the product end date is also 31 May 2023.
Aaron Strutt, product director at Trinity Financial, says: “Our brokers have access to HSBC’s systems and we can get applications approved and offered quickly through its online platform.
“If you are looking for a larger mortgage loan with a 10% or 15% deposit, we can arrange more generous deals through lenders like Bank of Ireland Bespoke and some of the private banks.”
After the 2.49% and 3.09% fixed rates expire, they both revert to HSBC's 3.54% standard variable rate.
Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation
Source: HSBC for Intermediaries website